More Law & Regulation – Page 15
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NewsMaPS forced into about turn on revision of pensions guide
The Money and Pension Service (MaPS) has revised a key pensions guidance document over concerns it could lead to non-UK residents facing an unexpected tax bill.
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NewsConsumer duty: Advisers warn of fee increase
Almost a third of financial advisers expect their customer fees to increase as a result of the Financial Conduct Authority’s (FCA) consumer duty.
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NewsPensions transfer scams on the increase
The number of people being approached unsolicited about transferring their pension increased in the second quarter of the year by five per cent, according to helpandadvice.co.uk.
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NewsACA: HMRC must give greater clarity to avoid "pensions limbo" for DB schemes and members
The pensions industry requires greater clarity from government departments, if defined benefit (DB) schemes and members are not to find themselves in a “tax limbo”, warned the Association of Consulting Actuaries (ACA) this morning.
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NewsDeath tax: Government urged to clarify pension rules
The government has announced it is consulting around changes to the way pensions are taxed after death, but pension industry experts are arguing that the move makes little sense.
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NewsCalls for pension tax overhaul as HMRC refunds over £56m in overpayments
Figures released by HMRC show that pension savers were refunded £56,243,842 in overpaid tax during the second quarter of 2023 alone.
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NewsTPR reports rise in interventions
The Pensions Regulator (TPR) said it had intervened in 22 per cent of schemes, an increase on last year’s 16 per cent.
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NewsDB schemes: PPF 7800 Index records highest ever surplus
The aggregate surplus of the 5,131 schemes in the PPF 7800 Index is estimated to have increased over the month to £437bin at the end of June 2023, from a surplus of £430.9bn at the end of May 2023.
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NewsMansion House reforms: Trustee capabilities come under scrutiny as consultation period opens
The ability of pension trustees to fulfil their legal obligations is being reviewed and follows pension reforms outlined by the Chancellor earlier this week.
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NewsDC pensions: Savers on course to be poorer in retirement, Aon
Younger savers are, on average, projected as having a lower standard of living in retirement, according to Aon UK.
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NewsPension schemes delaying dashboard work to concentrate on more 'pressing' projects
An SPP survey found nearly three quarters of consultants had seen a slowdown in related activities since a delay to the implementation of the pensions dashboard.
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NewsAnnuities are back in fashion, but take up needs to be a long-term trend
Annuity sales surged 22 per cent during the first three months of 2023, according to the ABI, but - despite decades of campaigning - more still needs to be done to educate consumers about them.
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NewsFCA's proposed London listing shake up might cause more market woes, PLSA
The Financial Conduct Authority (FCA) launched a consultation last month over concerns the UK’s regime was too complicated and the capital was losing out to New York when it came to international companies wanting to list their shares.
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NewsLocal Government Pension Scheme: PLSA launches resources to help employers
TheBest Practice: A Guide for Employers Participating in the LGPS, has been launched to coincide with the PLSA’s annual Local Authority Conference, which is being held in Gloucestershire.
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NewsLDI use 'must never be allowed to jeopardise UK economy again'
LDI crisis must never happen again, says damning Work and Pensions Committee report
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NewsPLSA launches cost-of-living support hub for pension schemes
The Pensions and Lifetime Savings Association (PLSA) has published resources for pension schemes to help members struggling with their finances.
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NewsRising inflation and triple lock pledge will boost pensions payments
Pensioners could see their income boosted next year as 'sticky inflation' drives another expected significant rise in the state pension, consultancy Broadstone has claimed.
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NewsFCA's consumer duty reforms will shake up the pensions industry
Are companies ready for the biggest reform in financial services since 2012?
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NewsDB schemes could face extra costs after High Court judgement
Virgin Media case could render contracting-out changes invalid, if schemes cannot produce a section 37 certificate
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News'More work needed' to speed up pension transfer scam protection measures
Over 20 pension schemes, administrators and industry bodies took part in the DWP's 18-month review, which found that only four per cent of transfers were given a red or amber flag.